This study finds the City of Toronto hasn't been using all of the tax room that it has at its disposal – it's sitting on more than $600 million in untapped potential revenue. Just allowing Toronto property taxes to keep up with inflation and population growth would yield $200 million in additional annual revenue and a set of untapped tax options available under the City of Toronto Act could yield up to $440 million in additional annual revenue.
Toronto's Taxing Question
Options to Improve the City's Revenue Health
January 19, 2015